EPIC Blue: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
EPIC Blue
Largest movements
- Receivables within one year +€335,000
up €335,000 (+114.4%), from €292,921 to €627,921
of which Trade receivables: +€335,000
- Cash -€114,384
down €114,384 (-70.8%), from €161,545 to €47,161
mainly Receivables within one year (-€335,000) and Current portion of long-term debt (-€110,160)
- Deferred charges and accrued income +€46,843
up €46,843 (+604.5%), from €7,749 to €54,592
- Profit (loss) carried forward +€264,475
up €264,475 (+17.5%), from -€1.5m to -€1.2m
- Current portion of long-term debt -€110,160
down €110,160 (-67.8%), from €162,500 to €52,340
- Tax, wage and social debts +€64,686
up €64,686 (+115.8%), from €55,867 to €120,553
of which Taxes: +€48,168
- Trade debts +€45,719
up €45,719 (+75.1%), from €60,902 to €106,621
- Gross operating margin +€505,103
up €505,103 (+848.5%), from €59,530 to €564,633
- Staff costs +€88,119
up €88,119 (+47.7%), from €184,861 to €272,981
- Financial charges +€22,370
up €22,370 (+426.0%), from €5,251 to €27,621
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €464,954 | €729,674 | +€264,720 | +56.9% |
| Fixed assets | 21/28 | €2,739 | €0 | -€2,739 | -100.0% |
| Intangible fixed assets | 21 | €1,090 | €0 | -€1,090 | -100.0% |
| Tangible fixed assets | 22/27 | €1,648 | €0 | -€1,648 | -100.0% |
| Furniture and vehicles | 24 | €1,648 | €0 | -€1,648 | -100.0% |
| Current assets | 29/58 | €462,215 | €729,674 | +€267,459 | +57.9% |
| Amounts receivable within one year | 40/41 | €292,921 | €627,921 | +€335,000 | +114.4% |
| Trade receivables | 40 | €292,849 | €627,849 | +€335,000 | +114.4% |
| Other amounts receivable | 41 | €72 | €72 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €161,545 | €47,161 | -€114,384 | -70.8% |
| Deferred charges and accrued income | 490/1 | €7,749 | €54,592 | +€46,843 | +604.5% |
| Total equity and liabilities | 10/49 | €464,954 | €729,674 | +€264,720 | +56.9% |
| Equity | 10/15 | €185,684 | €450,159 | +€264,475 | +142.4% |
| Contributions | 10/11 | €1,699,671 | €1,699,671 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,513,986 | -€1,249,511 | +€264,475 | +17.5% |
| Amounts payable | 17/49 | €279,269 | €279,514 | +€245 | +0.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €279,269 | €279,514 | +€245 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €162,500 | €52,340 | -€110,160 | -67.8% |
| Trade debts | 44 | €60,902 | €106,621 | +€45,719 | +75.1% |
| Suppliers | 440/4 | €60,902 | €106,621 | +€45,719 | +75.1% |
| Taxes, remuneration and social security | 45 | €55,867 | €120,553 | +€64,686 | +115.8% |
| Taxes | 450/3 | €37,754 | €85,923 | +€48,168 | +127.6% |
| Remuneration and social security | 454/9 | €18,112 | €34,630 | +€16,518 | +91.2% |
| Remuneration, social security and pensions | 62 | €184,861 | €272,981 | +€88,119 | +47.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,392 | €2,739 | -€4,653 | -63.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €387 | €408 | +€20 | +5.3% |
| Gross operating margin | 9900 | €59,530 | €564,633 | +€505,103 | +848.5% |
| Operating profit (loss) | 9901 | -€133,111 | €288,506 | +€421,616 | |
| Financial income | 75/76B | €40 | €4,033 | +€3,992 | +9918.7% |
| Recurring financial income | 75 | €40 | €4,033 | +€3,992 | +9918.7% |
| Financial charges | 65/66B | €5,251 | €27,621 | +€22,370 | +426.0% |
| Recurring financial charges | 65 | €5,251 | €27,621 | +€22,370 | +426.0% |
| Profit (loss) for the period before taxes | 9903 | -€138,321 | €264,917 | +€403,239 | |
| Income taxes | 67/77 | €481 | €442 | -€39 | -8.1% |
| Profit (loss) for the period | 9904 | -€138,803 | €264,475 | +€403,277 | |
| Profit (loss) for the period to be appropriated | 9905 | -€138,803 | €264,475 | +€403,277 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.